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Shein's net profit fell nearly 40% in 2024, impacting its planned IPO and reducing its valuation.
Online fast-fashion giant Shein saw its net profit drop by nearly 40% in 2024, falling to $1 billion, despite a 19% rise in sales to $38 billion.
The Financial Times reported this decline, which is lower than the company's forecasted net profit of $4.8 billion.
This financial setback could delay Shein's planned London IPO and reduce its valuation by about 25% to $50 billion.
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El beneficio neto de Shein cayó casi un 40% en 2024, impactando a su IPO prevista y reduciendo su valoración.